A Memorandum of Understanding
When you go through a mediation process in New York, your mediator prepares an agreement at the conclusion of the mediation. That document is called a Memorandum of Understanding, also known as an MOU. That document is not signed by the parties, and it is not a valid or enforceable separation agreement. It is a memorandum of all of the issues that you addressed and agreed upon in mediation. Once you have your MOU, you will take it to one of your attorneys. They will prepare a binding agreement that is based upon the terms in the Memorandum of Understanding.